In this paper we examine currency areas and monetary policy coordination in a two-country model where the value of each country’s currency is determined endogenously. Exchanges in the goods markets are modelled as random bilateral matches, and households choose the amount and the frequency of purchases made in each currency area. By contrast, the currency market is centralized and Walrasian. We...

OBJECTIVES To assess the concurrent and the construct validity of the Euro-D in older Thai persons. METHOD Eight local psychiatrists used the major depressive episode section of the Mini International Neuropsychiatric Interview to interview 150 consecutive psychiatric clinic attendees. A trained interviewer administered the Euro-D. We used receiver operating characteristic (ROC) analysis to a...

In a foreign currency exchange market, there are highdensity data streams. The present approaches for visualization of this type of data cannot show us a figure with targeted both local details and global trend information. In this paper, on the basis of features and attributes of foreign currency exchange trading streams, we discuss and compare multiple approaches including interactive zooming...

A currency area can be a self-validating optimal policy regime, even when monetary unification does not foster real economic integration and intra-industry trade. In our model firms choose the degree of exchange rate pass-through onto export prices accounting for expected monetary policies, and monetary authorities choose optimal policy rules taking firms’ pass-through as given. We show that th...

In this paper, I attempt to address some of these issues. I examine the behaviour of countries that are or have been members of international currency unions. More precisely, I ask whether existing currency unions replicate the desirable features of optimal currency areas as set out by Mundell (1961). Specifically, I ask whether the countries and political units that constitute currency unions ...

The main purpose of this study is to devise a general regression neural network (GRNN)based currency crisis forecasting model for Southeast Asian economies based upon the disastrous 1997–1998 currency crisis experience. For this some typical indicators of currency exchange rates volatility are first chosen, then these indicators are input into GRNN for training, and finally the trained GRNN is ...

An efficient currency recognition system is vital for the automation in many sectors such as vending machine, rail way ticket counter, banking system, shopping mall, currency exchange service etc. The paper currency recognition is significant for a number of reasons. a) They become old early than coins; b) The possibility of joining broken currency is greater than that of coin currency; c) Coin...

This paper analyzes the feasibility of various types of currency unions, such as a dollar bloc, Euro bloc, Yen bloc, and basket currency bloc in East Asia, and empirically estimates welfare effects of a currency union for East Asian economies. Judging from optimum currency area (OCA) criteria, including the symmetry of output and price shocks across countries, commitment to price stability, and...

Abstract: Central banks have long been interested in obtaining precise estimations of money demand given the fact that the evolution of money demand plays a key role over several monetary variables. One implication of currency substitution is that the exchange rate could serve as another determinant of the demand for money. Due to the recent currency crisis in Iran, it would be important to inv...